Worried you’re missing part of your refund? Remember, the low and middle income tax offset isn’t a refund on its own – it’s used to offset (or reduce) the amount of tax you pay. The offset amount you may be entitled to is automatically applied and could range between $255-$1080, depending on things like your taxable income and how much tax you’ve paid.
Hi, Just a general BAS GST Refund Question with the business portal. My business has a GST credit to be processed. Once this is submitted and ensured bank details are correct is there anything further that needs to be done on my end or is the credit processed to the bank account automatically? Assuming there are no outstanding returns / bas etc or red flags that could hold it up.